Teekay LNG Partners Declares Distributions on Series A and B Preferred Units

Rhea-AI Summary

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (TGP), has announced cash distributions for its preferred units. Holders of Series A preferred units will receive $0.5625 per unit, while Series B preferred units will earn $0.5313 per unit. These distributions cover the period from July 1, 2020, to September 30, 2020, and are payable on October 15, 2020, to all unitholders of record as of September 30, 2020. Teekay LNG operates a significant fleet of LNG and LPG carriers and is publicly traded on the NYSE under symbols TGP, TGP PR A, and TGP PR B.

Positive

• Declared distributions of $0.5625 per unit for Series A and $0.5313 for Series B preferred units.
• Distributions payable on October 15, 2020, provides timely returns to unitholders.

Negative

• None.

HAMILTON, Bermuda, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP), has declared cash distributions of $0.5625 per unit on the Partnership’s Series A preferred units (NYSE:TGP PR A) and $0.5313 per unit on the Partnership’s Series B preferred units (NYSE:TGP PR B) for the period from July 1, 2020 to September 30, 2020. The cash distributions are payable on October 15, 2020 to all unitholders of record as at September 30, 2020. 

Teekay LNG’s preferred unit distributions are reported on Form 1099 for United States tax purposes.

About Teekay LNG

Teekay LNG is one of the world’s largest independent owners and operators of LNG carriers, providing LNG and LPG services primarily under long-term, fee-based charter contracts through its interests in 47 LNG carriers, 23 mid-size LPG carriers, and seven multi-gas carriers. The Partnership’s ownership interests in these vessels range from 20 to 100 percent. In addition, the Partnership owns a 30 percent interest in a regasification terminal. Teekay LNG is a publicly-traded master limited partnership formed by Teekay Corporation (NYSE: TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

Teekay LNG Partners’ common units and preferred units trade on the New York Stock Exchange under the symbols “TGP”, “TGP PR A” and “TGP PR B”, respectively.

For Investor Relations
enquiries contact:

Ryan Hamilton
Tel: +1 (604) 609-2963
Website: www.teekay.com

FAQ

What is the cash distribution amount for TGP's Series A preferred units?

TGP's Series A preferred units will receive $0.5625 per unit.

When will TGP distribute cash to its unitholders?

The cash distribution will be payable on October 15, 2020.

What is the record date for TGP's cash distributions?

The record date for TGP's cash distributions is September 30, 2020.

What is TGP's stock symbol?

Teekay LNG Partners L.P. trades under the stock symbol TGP.

What types of services does Teekay LNG provide?

Teekay LNG provides LNG and LPG shipping services under long-term, fee-based contracts.